Indian Bank reports Pratibha Group fraud for outstanding dues of Rs 574.66 cr

Indian Bank announced that fully provided Non Performing Accounts of two companies of Pratibha Group namely, Pratibha Industries and FEMC-Pratibha Joint Venture with total outstanding dues of Rs.574.66 crore has been declared as fraud and reported to RBI as per regulatory requirement. The Bank has already made full provision of Rs.574.66 crore against the aforesaid two Accounts.

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